The new fact find technology continues to move forwards in terms of usability and gives you even more control of the fact find process.

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1 FinPlan R9.6 Wrap Valuations, Plans and Fact Find Control FinPlan R9.6 delivers a set of major new enhancements to the system including new wrap providers, Plans for grouping policies and further fact find enhancements. Following fantastic feedback and the very positive reception to R9.5 and the customisable fact finds we have pushed the development further with the introduction of Section ordering and joining letting you not only change the content but also the ordering of fact find and enquiry sections. You are still firmly in the driving seat when it comes to specifying the enquiry and fact find details and can create any number of variations to use in different scenarios with clients. The new fact find technology continues to move forwards in terms of usability and gives you even more control of the fact find process. 034 R1.4 Jul 2014 Page 1 of 11

2 R9.6 RELEASE SUMMARY This update adds new features and enhances the existing functionality. Key benefits include: Major fact find enhancements. Not only can you customise the fact find and set the level of detail to capture as well as create custom fact finds for different advice situations but now you can re-order the fact find sections and join pages and sections together if required; New Plan wrappers for holdings best represented by multiple policies; New valuation services: Aviva Wrap, 7im, Standard Life Pensions & Standard Life Wrap; Improved Unipass certificate handling for valuations; New Product types: Bridging Finance, IHT Plan, NISA, Wrap Account & Relevant Life; Updated Consultancy Charge model for RMAR reporting; Ignore whitespace and leading zeroes in policy search and commission matching; Openwork (OWS) Client Export; New column on Admin Workflow report for task reviewer; New client review report; Added adviser name to Client Details template; to multiple addresses bug fixed; Improved IRR calculation in Investment Analysis report; Improved HTML parsing; New Health & Lifestyle fact find questions; and Mortgage fact find additions; Important: You will probably need to spend some time configuring your fact find so that it meets your requirements in terms of content and the mandatory elements that are required. This should be done by a user who has the Company Manager role assigned to their log-in ID. The wording of the Client Declaration can also be edited by the Company Manager so that specific declaration paragraphs can be made available for each fact find Further changes and new fact find or enquiry templates can be added at any point and changes can be made to existing templates. Once the configuration has been completed, any new fact find will use the new configuration. Any existing/old fact finds that have not yet been filed will not reflect any changes made during the configuration. Page 2 of 11

3 CONFIGURABLE FACT FIND & NEW ENQUIRY WIZARD The R9.6 fact find and new enquiry templates have been further enhanced to provide section ordering and joining as configuration options. These options affect both the fact finds and new enquiry templates and so within this guide you can assume that any changes or examples given regarding fact finds are equally applicable to enquiry templates and vice versa. Any user who has been assigned the FinPlan Company Manager role can configure the fact find or enquiry to determine the level of detail that is required to be completed. Items can be marked as mandatory, to restrict filing the document before completion, and different named custom versions of the fact find or enquiry can be created to accommodate different client or enquiry types. DOCUMENT OUTLINE AND SECTION ORDERING Within the fact find and new enquiries, the Document Outline button can be used to view and amend the currently active sections for the fact find. The Document Outline displays the sections of the document that are currently included. To add or remove a specific section to this template tick or un-tick the item in the Document Outline. It is also possible to reorder the sections (or the pages within each section) by highlighting it within the list and then using the Up and Down buttons displayed at the top of the Document Outline window. Section tab. See below for details. It is not possible to move a page from one section to another from the Document Outline, however this can be achieved using the Join If an item from the Included Sections list appears with a red cross it is not currently available within the fact find. Tick the box to make the section available in all fact finds generated from this template. Page 3 of 11

4 JOIN SECTION The Join Section tab of the Document Outline allows consecutive sections of the fact find or enquiry to be joined together so that the captured details appear on a single page and within the same section of the fact find. In the example below, the New Enquiry section has been joined to the Personal Details section. This means that there is no separate Personal Details section for the enquiry. Also, the Client Details have been joined to the Contact Details page so that a single Client Details page appears but this contains the questions that were available separately on the Client Details and Contact Details pages. Using the Section ordering and join facilities you can construct a fact find (or enquiry) that contains the sections and pages you require, presented in your preferred order. Page 4 of 11

5 PAGE CONFIGURATION First introduced in FinPlan R9.5 it is now possible to select which questions appear on each fact find or enquiry and whether the specific item is mandatory or not. When you press the Page Configuration button when viewing the fact find you can add or remove any of the questions available for that page. When pages have been Joined (using the Join feature detailed above) you will find all of the questions for the combined pages appear for selection. CONFIGURING FACT FINDS AND ENQUIRIES R9.6 adds some new pages and questions to the existing fact finds. These will be hidden by default and you should review your existing fact finds to decide if you wish to include any of the new items. It is recommended that you configure your fact finds by following this procedure: 1. Use the Document Outline to Add/Remove the required sections and pages; 2. Set the Page and Section order from within the Document Outline if you wish to join sections or pages together they need to be adjacent in the Outline; 3. Use the Join Section tab to merge adjacent sections and/or pages remember that multiple merges are possible so you could, for example, merge all sections and have a single section fact find that contains all of the detail with no separate section breaks; 4. Use the Page Configuration button to add/remove the required questions from each page; 5. Set/Un-set the mandatory flag for the questions that require completion before filing the fact find or enquiry. Page 5 of 11

6 Remember that you can create new, separate templates for both enquiries and fact finds via View->Advanced-Options and selecting the Custom Document Templates tab. When creating a new template, a copy is made of one of the existing templates so if you wish to have several templates with custom section/page ordering it makes sense to fully configure your first template and then copy this for subsequent versions. A new Health & Lifestyle fact find section is one of the additions to the fact finds now available in R9.6. This section includes questions to capture weight and height in either metric or imperial units and calculate the BMI for the client. Page 6 of 11

7 PLANS Plans provide a logical grouping for policies. They enable multiple policies to be viewed as a single holding, combining the benefits, premiums and commission receipts into a combined holding for the client. Plans can be used to represent: A wrap account containing several distinct policies; An investment (such as an ISA) that can comprise multiple policies (one for each year); A SIPP containing cash and other investments; Or any other form of holding where there is a wrapper containing a number of separate policies. It is important to understand that a Plan is not a policy in itself and does not have commission or fees allocated to it. From the plan it is possible to see the agregate position of each policy held within the plan, including the outstanding compliance and administration records. These can be used to ensure that all activities relating to the plan such as valuations, reviews and topups have been fully completed. Each Plan is assigned a unique Plan Number and can be located via the Plan Search using this reference. A new Wrap Account investment product type has been added for use where the Plan represents a wrap holding. COMMISSION AND PLANS IMPORTANT: Commissions are allocated against POLICIES not plans. If you allocate the Plan a Plan Number and then receive commission with that Plan Number it will NOT be matched. If you are using a plan to hold the details of an ISA that contains a separate policy for each year s investment you will need to ensure that there is a single policy within the plan that has the live policy number via which commission will be received. The plan and the other policies within the plan should have an artificial prefix or suffix to ensure that the commission is allocated to the correct policy. WORKING WITH PLANS When new business is added to the system, you now have the option to add it to an existing plan already held by the client, to create a new plan (of which this will be the first policy) or to simply add the new business without using a Plan. You will need to decide which option is most appropriate, however you can always change the details at a later point and create a new plan or add or remove an existing policy to/from a plan if required. Page 7 of 11

8 A client s Plans can be accessed via the Plans button in the left-hand menu (1). The Policies & Assets tab of the Plan shows the policies and assets that are currently linked to this plan (2). Policies and assets can be added to this plan using the buttons at the bottom of the screen (3). These can be existing policies already recorded against the client or the details of new existing policies can also be added. Note that new business should not be enetered in this way the enquiry process is used to add new business against a plan. The red cross buttons on the right (4) can be used to remove a policy from a plan. Note that this does not delete the policy it mearly removes the link to the plan and the policy details will remain unchanged. Any policy or asset listed within the Plan can be accessed via the green link button (5) next to it s name. When viewing a policy that is linked to a plan the plan name will appear in the highlighted region as shown here and the link button can be used to jump to the associated plan. Page 8 of 11

9 When viewing a plan, each tab displays the summary of all of the associated policies. In the example above, the Premiums tab displays the premiums that are configured for each of the policies within the plan. The Commission Ledger tab will display all of the commission receipts for all of the policies within the plan. NEW AND IMPROVED VALUATION SERVICES R9.6 adds valuation services for Seven Investment Management (7im), Aviva Wrap, Standard Life Wrap and Standard Life pensions. These new contract enquiry services can retrieve valuations on demand from the provider. To configure these services access the View->Advanced->Options menu and choose the Valuation Services tab. When using Unipass certificates, the expiry date and issuer are clearly shown to assist in the selection of the correct certificate. No special windows permissions are now required to install the certificates. Page 9 of 11

10 OPENWORK (OWS) CLIENT EXPORT Openwork users can export the client data as part of their New Enquiry process. Data can be passed directly to the Openwork OWS platform although to use the service you will need to complete the security details presented. The export function is designed to operate automatically via the Adviser Process on the new enquiry. Please contact Technical Support if you require assistance in configuring the framework to perform the export. Page 10 of 11

11 MINOR ENHANCEMENTS AND BUG FIXES The R9.6 release contains a number of minor enhancements and bug fixes: New product types have been added for: Bridging Finance, IHT Plan, the New ISA (NISA) and Relevant Life protection plans; Updated Consultancy Charge model for the RMAR report. Now it is possible to set Consultancy or Adviser Charges against any policy so Adviser Charges can be raised against corporate clients and Consultancy Charges can be recorded against personal clients; When performing a policy number search any leading whitespace or zeroes are ignored. This means that when locating a policy typing 747 will match against policies 00747, 0747 or This matching also occurs when commission is received so a receipt with policy number will match to a policy or ; A new column on the Admin Workflow report has been added to show the task reviewer. This may be different from the Administrator assigned to the case and reflects the individual who has been assigned to the specific task; A new client review report has been added which lists the upcoming Client Reviews ignoring any pending policy or mortgage reviews. There is a separate report that details the upcoming policy and mortgage reviews; The client s adviser name has been added to the Client Details document template. This allows the generation of mailshot letters that include the adviser s name in the document. To access the new field you need to create a NEW template based on the system Client Details template. The new field will not appear in existing templates; A bug affecting generation to multiple addresses has been fixed; When Financial Priorities are marked as mandatory within an Enquiry or Fact Find, only one item needs to be selected to fulfil the mandatory requirement; The calculation of IRR figures in the Investment Analysis report has been improved to better handle investments with losses; The processing of HTML from Microsoft Office has been improved to reduce occasional errors encountered when trying to open s that have been added to the history; New questions have been added to the Mortgage fact find. Please use the configuration functions to review your mortgage fact finds and include the new details where required. Page 11 of 11